Polymarket & Underdog sue Ohio’s regulator over sports contracts
Three firms remain undecided while Polymarket & Underdog Predict sue the regulator.
The hit
Robinhood, Gemini, Moomoo Financial & Plus500US have complied, joining Coinbase, the Ohio Casino Control Commission says. That brings compliance to 5 of 10 firms targeted after the regulator’s cease-&-desist letters.
Why it matters
The OCCC treats sports event contracts as illegal gambling under state law, not federally regulated derivatives. For bettors, that means fewer places in Ohio to trade these markets as firms exit rather than fight. For the holdouts, GamblingNews says the OCCC is likely to gain the upper hand in any legal battle.
The record
| Firms targeted by Ohio’s regulator | 10 |
|---|---|
| Kalshi court ruling | Sixth Circuit Court of Appeals ruled against Kalshi, late September |
| Firms suing the OCCC | Arguing federal rules apply |
What happens next
Watch for rulings in the lawsuits, plus whether Novig, ProphetX or Webull Financial follow the firms that have already complied.
Sources: Sports Event Contracts on Their Way Out in Ohio
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